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Vice Media Group Lays Off More Staff

Vice Media Group is beginning a restructuring process that will see the departure of a number of employees.

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IRS Claims Vice Media Owes Nearly $41 Million in Back Taxes for Refinery29

Todd Spangler NY Digital Editor The Internal Revenue Service filed a claim in Vice Media Group’s bankruptcy case saying the company’s Refinery29 division owes the U.S. government about $40.9 million in back taxes, interest and penalties. The total tax bill for Refinery29, a digital media outlet that focuses on fashion, beauty and wellness topics, runs from the first quarter of 2020 through June 2023, per the IRS’s claim filed on Aug.

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Vice Media Closes $350 Million Sale to Investors Fortress, Soros Fund Management and Monroe Capital

Todd Spangler NY Digital Editor Vice Media Group announced the completion of its post-bankruptcy sale to a consortium of former lenders, in a deal valuing the once-high-flying media company at $350 million. As previously announced, the new owners of Vice Media are funds managed by affiliates of Fortress Investment Group, Soros Fund Management and Monroe Capital.

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Vice Media to Be Acquired by Fortress Investment Group

Jennifer Maas TV Business Writer After filing for Chapter 11 bankruptcy in May, Vice Media is set to be acquired by its lenders Fortress Investment Group and and Soros Fund Management. Vice representatives declined Variety‘s request for comment Thursday, however, an internal memo was sent out to employees confirming the deal with its own backers, as first reported by the New York Times, is slated to close July 7. A court hearing is scheduled for Friday during which Fortress’s winning $225 million bid (Vice was valued at $5.7 billion in 2017) for Vice is set to be approved. At that point, the sale will still need to clear a regulatory approval process to be finalized.

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Vice Media Files For Chapter 11 Bankruptcy

Trail-blazing youth brand Vice Media has formally filed for Chapter 11 bankruptcy protection.

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Vice Media Formally Files for Chapter 11 Bankruptcy

Vice Media Group, said on Monday it had filed for Chapter 11 protection to facilitate its sale. The company said in a court filing that it listed both assets and liabilities in the range of $500 million to $1 billion, according to the Reuters news service. The statement also said that the group had agreed to the terms of an asset purchase agreement with a consortium of lenders. These include Fortress Investment Group, Soros Fund Management, and Monroe Capital. The consortium agreed to provide total purchase consideration of approximately $225 million in the form of a credit bid for substantially all of the company’s assets, in addition to the assumption of significant liabilities upon closing, the statement said.

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Vice Preps Bankruptcy Filing and $400 Million Sale, Less Than 10% of Its Peak Valuation (Report)

Todd Spangler NY Digital Editor Struggling media company Vice Media Group is gearing up to file for Chapter 11 bankruptcy protection — and then sell itself to some of its backers for about $400 million, according to a new report. The Brooklyn-based company post-bankruptcy arrangement to sell to investors including Fortress Investment Group and Soros Fund Management would value it at $400 million, the Wall Street Journal reported. That would be less than 10% of its once high-flying $5.7 billion valuation back in 2017. The New York Times last week reported that Vice was prepping a bankruptcy filing. A spokesman for Vice Media declined to comment. Representatives for Fortress and Soros Fund Management did not respond to requests for comment.

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Vice Media Preparing To File For Bankruptcy

Vice Media Group, the swashbuckling youth-skewing digital media brand, is preparing to file for bankruptcy.

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‘Vice News Tonight’ To End As Company Undergoes News Layoffs And Restructuring

Vice Media Group announced that it was streamlining its news division, including layoffs and the cancelation of its signature newscast, Vice News Tonight.

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Vice Sets Slate Of Docs At Tubi Including ‘The Cult Of Elon’

EXCLUSIVE: Vice Media has a new partner in the documentary space.

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New Vice Media CEOs on Nancy Dubuc Exit, the Brand’s ‘Distinct Proposition’ Amid Sales Talks and Big ‘Bama Rush’ Doc

Jennifer Maas TV Business Writer Bruce Dixon and Hozefa Lokhandwala have been on the job for less than two weeks as co-CEOs of Vice Media Group. But despite the newness of their current roles, Lokhandwala and Dixon are already well versed in the inner workings of the Brooklyn-based company, having served for several years in senior roles under recently exited CEO Nancy Dubuc. Lokhandwala has been chief strategy officer at VMG since October 2018, and Dixon has held the position of CFO since 2021 and was previously CFO of Vice Studios. Both were brought in by Dubuc — who departed the company Feb. 24 after nearly five years as CEO — and now seek to follow in her footsteps while shaping the future of Vice, a company that has been seeking a buyer over the past year.

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Vice Names Bruce Dixon & Hozefa Lokhandwala As Co-CEOs Following Nancy Dubuc Exit

Nancy Dubuc revealed on Friday she was leaving Vice Media Group as CEO after five years. She will be replaced by Bruce Dixon and Hozefa Lokhandwala.

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Nancy Dubuc Exits As Vice Media CEO After 5 Years

EXCLUSIVE: Nancy Dubuc is leaving Vice Media Group where she was CEO for the past five years. She just announced her decision to her staff in a memo (you can read it below.) It comes as the board has launched a process to sell — an acquisition of the whole company, a strategic recapitalization, or other transactions involving individual assets — under the oversight of a Special Board Committee. According to sources, Dubuc was at the end of her contract and decided it was time to move on.

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Nancy Dubuc Stepping Down as Vice Media CEO

Todd Spangler NY Digital Editor Nancy Dubuc announced in a memo to Vice Media Group staff Friday that she is leaving as CEO of the media company. Dubuc, who was previously CEO of A+E Networks and spent nearly 20 years at the cable programmer, was hired as chief exec of Vice Media in 2018, when company co-founder Shane Smith shifting to a new role as executive chairman. “It’s been an exhilarating five years since joining you at Vice, and I am incredibly proud of the important and long-lasting accomplishments we have made together,” Dubuc wrote in her farewell email. “[A]s the anniversary of my tenure approaches, it is so difficult to share that I have made the decision to move onto the next chapter.” (Read the full memo below)

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Vice Media Promotes News & Entertainment Leaders As Jesse Angelo Re-Ups

Morgan Hertzan and Cory Haik have been promoted at Vice Media as Jesse Angelo has re-upped his contract.

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Jonathan Bing Exits Netflix to Lead Communications at Vice Media Group

Jennifer Maas TV Business WriterJonathan Bing has left his post as director of communications at Netflix to take the role of chief communications officer at Vice Media Group, Variety has learned.Based out of Los Angeles, Bing will lead Vice Media’s communications strategy across its portfolio of brands, including Vice News, Vice TV, Vice Studios and Refinery 29. He will head up Vice’s communications, brand, and reputation strategy globally “to reflect and deliver against the new ambitions for the business,” per the company.Most recently, Bing was head of communications at Netflix and previously senior vice president of communications for Fox Network Group.

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Jonathan Bing Named Chief Communications Officer For Vice Media Group

EXCLUSIVE: Jonathan Bing is joining Vice Media Group as the new chief communications officer.

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Vice Media Group’s New Programming Slate: ‘50 Years Of Hip Hop’, Live Juneteenth Celebration & ‘The Culture Of Truth’

Vice Media Group revealed its 2022-23 programming slate showcasing live events, returning originals, and insights. Select offerings include 50 Years of Hip Hop, The Glow Up, and The Culture of Trust.

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Nancy Dubuc Praises Vice Staff In Ukraine For “Brave” & “Human” Coverage, Takes Aim At Traditional News Outlets

Vice boss Nancy Dubuc has praised her colleagues in the field in Ukraine as bombing continues in the capital Kyiv, while taking a swipe at traditional news coverage.

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Vice Media Group Grows Female Workforce to 56% of Company, Unveils DEI Report Results (EXCLUSIVE)

Manori Ravindran International EditorThe boys club that was once synonymous with Vice is quietly disbanding.A seismic shift in the work culture and make-up of Vice Media Group (VMG) under CEO Nancy Dubuc appears to be paying dividends, as per the company’s 2020 Diversity, Equity and Inclusion (DEI) report, which reveals that women now comprise over half of the Shane Smith-founded company’s global workforce.Shared exclusively with Variety, the report shows the number of people identifying as a woman at VMG increased by 5.8% across the year, bringing the overall total to 56%.

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Nancy Dubuc: Last News

Vice Co-CEO Hozefa Lokhandwala To Exit

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